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Share Name Share Symbol Market Type Share ISIN Share Description
Cambria Auto LSE:CAMB London Ordinary Share GB00B4R32X65 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.50p +0.87% 57.50p 55.00p 60.00p 57.50p 57.50p 57.50p 10,000 08:00:04
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Retailers 630.1 9.1 7.3 7.9 57.50

Cambria Automobiles Share Discussion Threads

Showing 801 to 825 of 825 messages
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New car registration figures are out this morning for the month of December 2018. Total number regd was 144,089 a reduction of 5.5% compared to the figure of 152,473 in December 2017.
Indeed...some improvement in margins which certainly augers well if it can be maintained!
Interesting AGM update from Cambria Automobiles (LON:CAMB) today. • New vehicle sales down 24.9% (down 21.0% LFL), but gross margins up. • Used vehicle sales down 10.5% (down 2,9% LFL), but gross margins up. • Aftersales up 1.9% (up 2,6% LFL), and gross margins up. Overall trading in line with expectations and ahead of the same stage last year. Their strategy of investing in improving their brand mix appears to be paying off handsomely and it looks to me like they will emerge from this difficult period for car dealerships a better quality business than they were going into it.
effortless cool
New car registration figures are out this morning for the month of November 2018. Total number regd was 158,639 a reduction of 3% compared to the figure of 163,541 in November 2017. SMMT Commented "Model and regulatory changes combined with falling consumer confidence conspired to affect supply and demand in November. The good news is that, as supply constraints ease, and new exciting models come on sale in the months ahead, buyers can look forward to a wide choice of cutting-edge petrol, diesel and electrified cars".
Poor results - will management continue to enjoy its enormous pay packet? hxxps://
Zeus; Adj. EPS +4.6% ahead, on track Cambria has delivered a robust FY 2018 performance, in the context of a challenging new car market, which was ahead of our forecasts at the adjusted EPS level by +4.6%. We are maintaining our estimates on the back of these results, which we see as a positive outcome given market conditions. We also remain confident in the medium-term investment case, the company has a strong balance sheet with the successful addition of luxury brands and potentially more to come. § Final results: Cambria has delivered a FY adjusted PBT of £9.8m, which compares to our forecast of £9.5m and is -13.3% YOY. We see this as a strong performance in the context of a challenging market and operational disruption as sites were closed for re-development during the period. The franchise portfolio has been enhanced through the addition of three High Luxury Segment brands (McLaren, Bentley and Lamborghini), added to the portfolio with no goodwill. Interest costs were £0.3m higher than we forecast, which partially offset the outperformance against forecasts. Adjusted EPS was -14.7% YOY and 4.6% ahead of our forecast, with the dividend in line with our forecast of 1.0p which was flat YOY. § Key drivers: New vehicle revenue was -5.9% YOY, at £290.6m vs. £308.7m last year. This was a good performance in the context of a -17.1% drop in sales volumes. This was offset by a +1.2% increase in gross profit per unit, reflecting a strengthening mix from the business additions which sell at higher price points. Used revenue was up 1.1% YoY despite a 6.9% decline in the volume of units sold, which was partly driven by closures. The gross profit increased £1.1m in absolute terms to £24.6m, as the profit per unit increased 11.6%. Aftersales revenue increased by 1.5% to £72.5m or +4.1% on a LFL basis, with gross profit improving 5.7% to £26.8m, which was a £1.4m positive movement. § Forecasts: We leave our forecasts unchanged. Clearly trading headwinds remain across the sector and uncertainty is likely to continue into 2019. Supply challenges in new, political uncertainty in the UK and the impact of Brexit are all likely to be key drivers of the 2019E performance. We introduce our 2021E forecasts, building in a £0.3m growth in adj. PBT from 2020E levels. Based on our forecasts, the FCF yield builds to 15% - 16% by 2020E – 2021E as capex trends normalise under benign conditions following intense recent activity. § Valuation: While trading conditions clearly remain difficult, we remain confident in the Cambria story longer term, and believe it remains well positioned to deliver £1bn+ of revenue over the medium term. As we are seeing across the sector at present, near term valuation multiples are depressed, and the current market capitalisation of the Group remains at odds with the >£80m invested freehold asset base. Management are aligned with the shareholder base, with significant shareholdings, and are well positioned to continue to deliver value.
Results Tomorrow... "The Group will announce its Preliminary Results for the year to 31 August 2018 on 21 November 2018"
I a note from the brokers today... Valuation: Whilst we expect trading conditions to continue to be challenging in the near term, we believe the sector valuation for the UK car dealers is attractive on what we consider to be cautious and below consensus estimates across our coverage universe (Cambria, Lookers, Vertu and Marshall Motor Holdings). In general, balance sheet strength across the sector is robust, and we are likely to see further consolidation activity as smaller operators become more distressed in our view. We also see potential for further overseas interest in the UK dealer sector given current valuations. It would not surprise us to see some take over interest from the large US motor groups into the UK PLC’s given such valuations, especially if sterling did weaken further from here.
New car registration figures are out this morning for the month of October 2018. Total number regd was 153,599 a reduction of 2.9% compared to the figure of 158,192 in October 2017. SMMT Commented "Deliveries fell by -2.9% in the month, as model changes and backlogs at test houses conducting tough new WLTP emissions certification continued to cause shortages across some brands"
The UK new car market fell by -20.5% in September, according to the latest figures released today by the Society of Motor Manufacturers and Traders (SMMT). 338,834 vehicles were registered in the month, down around 87,000 on the previous year as new testing requirements continue to affect supply and distort the market
SMMT released the figures for UK new car registrations for July 2018 this morning. Total number of units registered was 163,898 an increase of 1.2% compared to July 2017 total of 161,997.
SMMT released the figures for UK new car registrations for June 2018 this morning. Total number of units registered was 234,945 a decrease of 3.5% compared to June 2017 total of 243,454. The drop off was attributable mainly towards the Fleet Sales sector (down 6.4%), with private regns only down a notional 0.6%. (Cambria focus mainly on private retail sales).
You're correct - month on month comparisons with 2017 are a little skewed at the moment. May 2017 buying was said to be affected by uncertainty in the lead up to the general election and, similarly, the actual election on 8/6/17 affected June. Maybe a more accurate comparison is the total registrations for the 5 months YTD, January to May year on year: 2013 948,666 2014 1,058,974 2015 1,119,072 2016 1,164,870 2017 1,158,357 2018 1,079,049
That's interesting, M7, although I guess that May last year was also impacted by the pull forward of demand into March. I suspect that June will give us a more reliable comparative.
effortless cool
SMMT released the figures for UK new car registrations for May 2018 this morning. Total number of units registered was 192,649 an increase of 3.45 compared to May 2017 total of 186,265. Private demand in the month grew by 10.1%, with more than 83,000 consumers driving home in a new car, and offsetting ongoing declines in the business and fleet sectors, down -9.6% and -0.7% respectively.
Zeus Capital’s Head of Research Mike Allen discusses Cambria Automobiles Interview - Q&A -
JAF - you're correct. To give a little context, the combined figures for March & April: 2017 714,413 Units 2018 641,980 Units Cambria interim results due on Tuesday. In the last 6 months the share price has under performed compared to their peers (Pendragon, Vertu, Lookers, Marshalls), so hopefully there'll be a correction soon.
As with the last month (or 2) these figures rather meaningless due to the upheaval caused by the vehicle tax changes in March 2017..... Notwithstanding this, still overweight in car dealers, and no plans to change!
This morning SMMT have issued their figures for new car registrations for the month of April. Total regns were 167,911 compared to 152,076 in April last year. A total increase of 10.4%.
SMMT issued their figures for new car registrations for the month of March this morning. Total regns were 474,069 compared to 562,337 in March last year. SMMT CEO commented: "March’s decline is not unexpected given the huge surge in registrations in the same month last year. Despite this, the market itself is relatively high with the underlying factors in terms of consumer choice, finance availability and cost of ownership all highly competitive"
March new car registration figures out in the morning - new plate change month. Guess it won't make good reading compared to 2017 when March was a bumper month, mainly due to loads of registrations being pulled forward to avoid the new tax changes effective from 1st April 2017. Also this March had less working days with Easter Hols starting in March as opposed to April last year & finally the terrible weather probably had an adverse impact as well. However, with over 70% of Cambria GP coming from Used Vehicles & Aftersales, the reality is this shouldn't impact much in the short term.
Zeus Capital's Head of Research Mike Allen discusses Cambria Automobiles' pre-close trading update
2 questions 1. In regards to the online car sales (like it is happening in retail ) this would destroy Cambria business how do you look at this Risk ? 2. A possible decline in new car sales due to the new car sharing services (car to go , rent a car etc ) for the Next 5 years , this would also destroy their business due to the operating leverage What do you think about these ?
Zeus; Cambria has released a pre-close trading update confirming it continues to trade in line with expectations. While trading conditions remain difficult driven by uncertainty on a number of different levels, we remain confident in the medium-term investment case. The Group has a strong balance sheet and is well positioned to delivered shareholder value in our view. Trading update: The Group’s trading performance in the first five months of the current financial year has been in line with the Board’s expectations, albeit behind the corresponding period in 2016/17, both on a total and like-for-like basis. This comes as no surprise to us given current sector trends, driven by uncertainty impacting consumer demand (in particularly diesel) with sterling uncertainty continuing to impact supply into the UK market in some quarters. We note the SMMT February data released yesterday showing new car registrations -2.8% (YTD -5.1%) with diesel registrations within this -23.5% (-24.9% YTD). Trading themes: Operationally, the refurbishment of the Bentley businesses in Tunbridge Wells and Chelmsford have been completed efficiently and are establishing themselves in new facilities. The Hatfield site (comprising JLR/Maclaren/Aston Martin) has started construction, albeit on a slight delay due to planning, while the substantial temporary McLaren showroom on the same site started to actively trade at the end of January. During this period of activity with premium brands, the Group has closed a Honda, Alfa Romeo and Jeep dealerships alongside two body shop operations. New vehicle unit sales were -16.5% or -14.6% on a LFL basis, albeit gross profit per unit (GPPU) did improve due to premium mix to partially offset the volume declines. Used car volumes continue to perform relatively well with LFL in line with the prior period, albeit total unit sales were -6.8% due to site closures and refranchising activity. GPPU also continued to improve in this division. Aftersales also remained robust, with revenue +0.6% or LFL +6.1% with profitability +2.1% or +8.2% on a LFL basis excluding the site and body shop closures. Forecasts: We are maintaining our trading forecast assumptions on the back of this update. We do anticipate strong medium-term profitability from Lamborghini, albeit we recognise it will take time for the order book to build from a new site. For H1 we have penciled in a H1 adjusted PBT of £4.6m, which compares to £5.6m last year representing a -17.4% YOY reduction. Valuation: While trading conditions have no doubt got more difficult, we remain confident in the Cambria story longer term, and believe it remains well positioned to deliver £1bn+ of revenue over the medium term. As we are seeing across the sector at present, near term valuation multiples are depressed, and the current market capitalisation of the Group remains at odds with the >£80m invested freehold asset base within the Group.
The UK new car market dipped in February, according to figures released today by the (SMMT). 80,805 new cars were registered, a 2.8% drop compared with February 2017 (83,115), in what is traditionally one of the quietest months of the year ahead of the March number plate change. That said, it was still the 3rd highest February figure in the last 10 years behind 2016 & 2017.
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